The hateful thing about wire trasfers is this, times costs exchange rates are never clear in advance.It is not so good to give away 10% of your money to banks.That was the reason I was asking for a better support for eWallets.https://community.darwinex.com/t/deposits-and-withdrawals-from-to-ewallets/585Mainly for non EU and small amounts.Clearly nobody plan to move millions with eWallets...

Just to make this clear: banks do not charge a % of the transaction, but a fixed fee. I am not sure about what happened on this specific case, but I am pretty sure the commission would have been exactly the same if the transfer had been for 50000 USD.

While I have no interest in defending any bank institution whatsoever (once we are done with Darwinex, I hope we can launch our own bank so we don't need to deal with them in the future!), please note that the specific case that has been mentioned here is a very rare one, involving entities from "exotic" countries and so on.

I completely agree! Only it is necessary to do at once in Switzerland. FINMA. Insurance for customers is 2 times more than for FCA. There are no restrictions on the margin. There are no problems with international payments. Etc. Ready to pay a commission for transactions more)))

I don't see why Darwinex with banking license will improve international non-EU wire transfers. There is a requirement for intermediate banks to handle the transactions.They fastest and cheapest way I know, and I know very little, for avoiding intermediate banks is using cryptocurrencies. I suggest partnering with bitpanda

Most London branches of big European banks were founded for their wealth management of big clients , also to reduce the country risk. So if 10 millions are transferred these fees are not relevant.

An own Bank can select its routing systems for money transfers and does not depend on what the bank had selected. On the point of costs this is hypothetical, but in theory every other bank can deliver the same services as Barclays at the same price .. of Zero.

I don't see why Darwinex with banking license will improve international non-EU wire transfers. There is a requirement for intermediate banks to handle the transactions.

If Darwinex is a bank, then a client (trader) can open a regular (current) account in this bank. And transfer money from the trading account to your own current bank account. This takes a few minutes. Because is done inside Darwinex. It is possible to issue a Visa or MasterCard attached to a normal bank account. And withdraw money in his city/country/"paradise island" on the same day.

Then I see no need for Darwinex to become a bank. Already there are banks like Revolut, N26, Monzo that will allow you to have a European account. Myself I use Revolut so I can do SEPA/local transfers to DarwinexAnother alternative is Transferwise, but it is not a bank.

I suspected it, clever system.My Darwinex account is in EUR so it would be impossible to remove all the withdrawal costs.My fee to deposit from Italy was 1 EUR , never withdrawed but it should be something like ~5 EUR.N26 should be the best option for people outside SEPA not working with GBP.

I have studied these online banks, they can be useful to save something for EU customers but aren't a solution for non EU non UK customers.Russians or Australians can't open a N26 or a Revolut account, so we are back to the starting point.

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